The best part of the cold heat soldering iron was the free wire stripper it came with, which lasted about 2 weeks, then that broke too. The iron is extremely dangerous for electronics. I tried it once to do a quick LED solder, and it lit up the LED! Not good. Then the tip broke, and I don't even know when. Even when it did work, it wouldn't melt the solder.
Grab yourself a 25W RadioShack iron for $8. That one will last at least a few weeks.